French utility Engie SA (EPA:ENGI) on Tuesday said it has signed a contract with Air Products (NYSE:APD) that will allow the industrial gases group to certify the use of green electricity for an industrial gas plant in France thanks to blockchain technology.
According to Engie, the deal is a revolution in customer-supplier relationships and makes Engie and Air Products pioneers in the certification of "green" industrial products in France.
The contract will allow Air Products to identify green energy generation assets for its plant based on their availability. Engie will link the production of a wind farm in the Aveyron area and two hydroelectric plants of its subsidiary SHEM in Hautes-Pyrenees and Correze to Air Product's Saint-Quentin Fallavier, Isere plant. Using blockchain technology, the utility will provide Air Products with "tamper-proof" traceability of the origin of its green energy in near-real time. In addition, the companies will develop an offering that will allow Air Products to certify the green energy used in the manufacturing of its products to its customers.
"Certification by blockchain technology gives ENGIE the opportunity to transform its customer-supplier relationship," commented Edouard Neviaski, head of Engie's Global Energy Management Business Unit. "With this type of contract, our ambition is two-fold: to improve the monitoring of green energy consumption by our customers and to enable our customers to be involved in their traceability to the final consumer," Neviaski said.
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